Criticism On Legislation
Economic libertarians claim that price fixing is inherently unstable and that regulation does more harm than good. A company can sometimes cheat on the cartel by secretly lowering its price and expand in the market. If there are low barriers to entry, new firms may enter the market. Also, libertarians say that price-fixing legislation limits innovation because it discourages the creation of competing companies.
Read more about this topic: Price Fixing
Famous quotes containing the words criticism and/or legislation:
“Good criticism is very rare and always precious.”
—Ralph Waldo Emerson (1803–1882)
“Statecraft is soulcraft. Just as all education is moral education because learning conditions conduct, much legislation is moral legislation because it conditions the action and the thought of the nation in broad and important spheres of life.”
—George F. Will (b. 1941)